Ireland sets size on BoI CoCo at EUR1bn -source

Reuters Staff

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LONDON, Jan 9 (IFR) - Ireland is expected to price a EUR1bn Bank of Ireland Convertible Contingent Capital (CoCo)) Tier 2 bond later on Wednesday in a range of 100-101, a banking source close to the transaction said.

Books on the deal, announced earlier on Wednesday by lead managers Davy, Deutsche Bank and UBS, have closed.

Once priced, the Irish government will have secured an exit from the EUR1bn instrument it received as part of a recapitalisation of the lender in March 2011.